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Auto Expo 2023: SIAM discusses changing dynamics in global automotive trade policies

Greater Noida: The Society of Indian Automobile Manufacturers (SIAM), organised the Auto Trade Dialogue at the Auto Expo 2023 and discussed emerging policies and trends in the global automotive industry.
The deliberations highlighted that with dynamically-changing automotive policy ecosystem, cooperation among the countries is of utmost importance in furthering the auto trade. The event witnessed distinguished policymakers from the ministry of commerce and industry, the ministry of heavy industries, and the Indian Auto Industry along with experts across various regions including from Bangladesh, Europe, Germany, Japan, Nepal, Sri Lanka, Africa and the United Kingdom, SIAM said in a statement, released on Saturday evening.

Hanif Qureshi, Joint Secretary, Ministry of Heavy Industries, said, "With the auto industry's turnover of USD 123 billion, India is one of the largest markets globally. We hope to strengthen our relationship with governments, manufacturers and consumers, and build an ecosystem where the sector can thrive."
Srikar Reddy, Joint Secretary, Ministry of Commerce and Industry, said, "With the ambitious target of reaching USD 1 trillion total trade exports by 2030, we look forward to the Indian auto sector to contribute USD 100 billion in exports by the year 2030."
Anna Shotbolt, Deputy Trade Commissioner, British High Commission Indian and Nathalie Gminder, First Secretary, German Embassy were also present at the event.

Rahul Bharti, Chairman, SIAM International Relations and Trade Policy Group, and Executive Director, Maruti Suzuki India, said, "The auto sector has seen a paradigm shift with the introduction of electric, hydrogen-based fuels and biofuels. Decarbonisation is our responsibility and even the government is participating in the transition by introducing subsidies."
Vinod Aggarwal, President, SIAM, and Managing Director and Chief Executive Officer, VECV, said, "Auto trade policies have received desirable focus in the past years. As India becomes an important player in the global auto Industry, we aspire to be one of the leading economies with a strong export footprint."
Cedrick Crowley, Deputy High Commissioner, High Commission of South Africa, said, "Trade will be the vehicle to cement the relationship between India and South Africa." (ANI)

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